Re: how bad are some of those leading our country ?
 

If you don't understand the point, it's obvious why you probably voted for Obama and you probably wouldn't understand it if I explained it to you. :rolleyes:

Lee

Re: how bad are some of those leading our country ?
 

Maybe you can understand this--it's a bit of the same kind of thinking addressed in the above by the current politicians in power:




In just six months, the largest tax hikes in the history of America will take effect.
They will hit families and small businesses in three great waves on January 1, 2011:

First Wave:
Expiration of George Bush's 2001 and 2003 Tax Relief
In 2001 and 2003, the GOP Congress enacted several tax cuts for investors, small business owners, and families. These will all expire on January 1, 2011:

Personal income tax rates will rise. The top
income tax rate will rise from 35 to 39.6 percent (this is also the rate at which two-thirds of small business profits are taxed). The lowest rate will rise from 10 to 15 percent. All the rates in between will also rise. Itemized deductions and personal exemptions will again phase out, which has the same mathematical effect as higher marginal tax rates. The full list of marginal rate hikes is below:


- The 10% bracket rises to an expanded 15%

- The 25% bracket rises to 28%

- The 28% bracket rises to 31%

- The 33% bracket rises to 36%

- The 35% bracket rises to 39.6%



Higher taxes on marriage and family. The
"marriage penalty" (narrower tax brackets for married
couples) will return from the first dollar of income. The child tax credit will be cut in half from $1000 to $500 per child. The standard deduction will no longer be doubled for married couples relative to the single level. The dependent care and adoption tax credits will be cut.


The return of the Death Tax.
This year, there is no death tax. For those dying on or after January 1 2011, there is a 55 percent top death tax rate on estates over $1 million. A person leaving behind two homes and a retirement account could easily pass along a death tax bill to their loved ones.


Higher tax rates on savers and investors.
The capital gains tax will rise from 15 percent this year to 20 percent in 2011. The dividends tax will rise from 15 percent this year to 39.6 percent in 2011. These rates will rise another 3.8 percent in 2013.


Second Wave:
Obamacare

There are over twenty new or higher taxes in Obamacare. Several will first go into effect on January 1, 2011. They include:

The "Medicine Cabinet Tax"
Thanks to Obamacare, Americans will no longer be able to use health savings account (HSA), flexible spending account (FSA), or health reimbursement (HRA) pre-tax dollars to purchase non-prescription, over-the-counter medicines (except insulin).

The "Special Needs Kids Tax"
This provision of Obamacare imposes a cap on flexible spending accounts (FSAs) of $2500 (Currently, there is no federal government limit). There is one group of FSA owners for whom this new cap will be particularly
cruel and onerous: parents of special needs children. There are thousands of families with special needs children in the United States, and many of them use FSAs to pay for special needs education. Tuition rates at one leading school that teaches special needs children
in Washington , D.C. ( National Child Research Center ) can easily exceed $14,000 per year.
Under tax rules, FSA dollars can not be used to pay for this type of special needs education.

The HSA Withdrawal Tax Hike.
This provision of Obamacare increases the additional tax on non-medical early withdrawals from an HSA from 10 to 20 percent, disadvantaging them relative to IRAs
and other tax-advantaged accounts, which remain at 10 percent.


Third Wave:
The Alternative Minimum Tax and Employer Tax Hikes

When Americans prepare to file their tax returns in January of 2011, they'll be in for a nasty surprise-the AMT won't be held harmless, and many tax relief provisions will have expired.
The major items include:

The AMT will ensnare over 28 million families, up from 4 million last year.
According to the left-leaning Tax Policy Center , Congress' failure to index the AMT will lead to an explosion of AMT taxpaying families-rising from 4 million last year to 28.5 million. These families will have to calculate their
tax burdens twice, and pay taxes at the higher level. The AMT was created in 1969 to ensnare a handful of taxpayers.

Small business expensing will be slashed and 50% expensing will disappear. Small businesses can normally expense (rather than slowly-deduct, or "depreciate") equipment purchases up to $250,000. This will be cut all the way down to $25,000. Larger businesses can
expense half of their purchases of equipment. In January of 2011, all of it will have to be "depreciated."

Taxes will be raised on all types of businesses.
There are literally scores of tax hikes on business that will take place. The biggest is the loss of the "research and
experimentation tax credit," but there are many, many others. Combining high marginal tax rates with the loss of this tax relief will cost jobs.

Tax Benefits for Education and Teaching Reduced.
The deduction for tuition and fees will not be available. Tax credits for education will be limited. Teachers will no longer be able to deduct classroom expenses. Coverdell Education Savings Accounts will be cut. Employer-provided educational assistance is curtailed. The student loan interest deduction will be disallowed for hundreds of thousands of families.

Charitable Contributions from IRAs no longer allowed.
Under current law, a retired person with an IRA can contribute up to $100,000 per year directly to a charity from their IRA. This contribution also counts toward an annual "required minimum distribution." This ability will no longer be there.

PDF Version Read more: <; http://www.atr.org/six-months-untilb...#ixzz0sY8waPq1

Now your insurance is INCOME on your W2's......

One of the surprises we'll find come next year, is what follows - - a little "surprise" that 99% of us had no idea was included in the "new and improved" healthcare legislation . . . the dupes, er, dopes, who backed this administration will be astonished!

Starting in 2011, (next year folks), your W-2 tax form sent by your employer will be increased to show the value of whatever health insurance you are given by the company. It does not matter if that's a private concern or governmental body of some sort. If you're retired? So what; your gross will go up by the amount of insurance you get.

You will be required to pay taxes on a large sum of money that you have never seen. Take your tax form you just finished and see what $15,000 or $20,000 additional gross does to your tax debt. That's what you'll pay next year. For many, it also puts you into a new higher bracket so it's even worse.


This is how the government is going to buy insurance for the 15% that don't have insurance and it's only part of the tax increases.

Not believing this??? Here is a research of the summaries.....

On page 25 of 29: TITLE IX REVENUE
PROVISIONS- SUBTITLE A: REVENUE OFFSET PROVISIONS-(sec. 9001,
as modified by sec. 10901) Sec.9002 "requires employers
to include in the W-2 form of each employee the aggregate cost of applicable employer sponsored group health coverage that is excludable from the employees gross income."

Joan Pryde is the senior tax editor for the Kiplinger letters.
Go to Kiplingers and read about 13 tax changes that
could affect you. Number 3 is what is above."

Read it all and weep.

Lee

Re: how bad are some of those leading our country ?
 

I'm going to fill you in on a little secret around here. There are two types of people in the world:

SVXers named "Lee", and liberals. :p


We get it, Obama sucks. I didn't vote for him.

Re: how bad are some of those leading our country ?
 

Thanks for the clarification NikFu. :lol:

Mr. Lee, you realize that taxes actually pay for things? Like schools, school books, lunches for kids at school, roads, the defense of our nation, etc. ad nausium. I'm all for paying taxes, as long as they aren't going into someone's pocket because I actually use a lot of the services provided by taxes, like the government subsidized student loans I'm paying off. If you want a tax break, petition your representatives to pass laws taxing the super rich, they are the ones who can actually afford it. Do you drive on roads? Did you go to public schools? Do you go to parks?

When I asked the point of your video, it wasn't out of ignorance, I heard what the guy was saying. I just tend to block out people, like Mr. Wynn, who curse during interviews and are so entrenched in their ideals that they can't seem to stay calm when discussing them. Hard to take someone seriously when they react like a nut-job during an interview.:bash:

Re: how bad are some of those leading our country ?
 

Yes, I definitely understand that taxes pay for things, but it was proven that tax revenues actually INCREASED when the taxes in the current law were DECREASED.

The very classes of people being hit the hardest on taxes are the ones that INVEST, START Businesses, HIRE workers, AND SPEND money on the economy. Every single one of these activities creates jobs and increases the tax base thereby increasing tax revenues. (You will note; however, that ALL working people will be hit with higher INCOME taxes and have already been hit by many new hidden taxes under this administration)

The federal government taking the taxes and then giving much of it away to nonproductive people or for deadend onetime projects or even worse yet, hiring more government employees (mostly to oversee and administer giveaway programs) adding a tremendous long term expense on the taxpayers-----DOES NOT increase tax revenue.

Lee

Re: how bad are some of those leading our country ?
 

I fall into the highest tax rate category, and already pay far too much in taxes. I payed over 9k in taxes last year, and only got 1400 bucks back on a return. What is that all about? Besides, I don't want my taxes going to welfare, food stamps, or people that get abortions (on my tax dollar under obamacare) just because their parents probably should have had abortions 18 years ago.

I don't want to pay for peoples health care at all, really. I got myself a job and was fortunate enough to get health care supplied by my employer. So why should I make 50k gross, but pay taxes on 70k? I am trying to save up for a house and build engines :p. This will never happen if they keep taxing us without representation.

Re: how bad are some of those leading our country ?
 

The super rich don't pay taxes, the super rich own companies.
Companies don't pay taxes, only people do.
Taxes are passed down from the super rich to the people though increased consumer prices.

BTW, using taxes to provide services only makes those services more expensive.

Same goes with anything that is government regulated or mandated.
Just look at car insurance. It used to be cheap when it was optional. Now that it is mandated it is expensive.
You think heathcare is expensive now, just wait until you are mandated to have it...
Healthcare is going to eat 1/4 of your income.

Taxes eat 1/3 income.

So that is ~60% of your income.

That is 60% of your labor is returned to the goverment/government controled industry, they have a word for this, its called fascism.

Obama's Wife Vacations
 

Obama's wife will take EIGHT (8) vacations this summer at taxpayers expense.

http://www.bing.com/news/search?q=mi...n+trips+summer

Lee

Re: how bad are some of those leading our country ?
 

There are a few others besides Lee here. And yes, I will second the vote on Obama - he sucks. :mad:

Re: how bad are some of those leading our country ?
 

How many of you have ever worked for a poor man? They don't hire people because they don't have any money to do so. The "Rich" are the ones who hire people and supply most of the jobs. The only other job provider is Government, and they use your money to do it. What is the definition of RICH anyway? I have asked people that question and the number goes from $50,000 to a million or more. Obama's definition went from over $250,000 to less than $100,000. He also said that he would cut taxes and not raise taxes on people making less than $250,000. NOT!

I provide my workers with health care insurance. I pay them well and they are loyal to my company. I just got notice that my coverage on my workers is being dropped at the end of the year. I can no longer provide my workers with the health care that they deserve. It is no longer is available. It is not my choice, but one that has been made for me. :(

I am so uncertain of what Obama has up his sleave, I am not hiring any new employees at this time. I don't know if I can afford it. I have to wait to see what is in store for me in the future. I don't know any other responsible business hiring now because of the same uncertain taxes or regulations that may be coming. Jobs are not going to come back anytime soon the way things are going. :(

Re: how bad are some of those leading our country ?
 

Kia ora Earl,

I have never been a socialist and but am very interested in the current US situation, particularly as we in N.Z. have for many years, had a universal superannuation system and a health system funded via taxation.

Why is coverage being dropped? Why can you can no longer provide your workers with the health care that they deserve? Does this no longer remain an option? :confused:

Cheers, Trevor.

Re: how bad are some of those leading our country ?
 

Obama care is on its way. The insurance companies are now dropping their coverage because they can not compete with the government. It does not stimulate competition like they said it would, but cut private firms from making any money at it. It will be the only option that we will be able to get here soon. My workers will be on their own and they will have to pay their own way. :mad:

Re: how bad are some of those leading our country ?
 

Your previous post indicated that you had no control over the situation whereas as I now understand it, you could continue to insure your workers if you wished to do so, i.e. exactly as is the situation here in N.Z.

The basis of any insurance system rests on the numbers involved in the scheme. The greater the numbers involved, the less the cost to the individual participant. This is where a single compulsory nation wide scheme wins out. What is more when financed by the government it is bullet proof.

In this small country it has been shown that private health insurance is still commercially viable and my wife and I have personal cover. The advantage being that one can guarantee more prompt attention, in respect of non life threatening problems, which require high tech treatment. It is quite normal for many employers to subsidise workers private health insurance, on the basis of commercial common sense, there being obvious mutual advantage involved.

Life threatening medical problems are treated immediately. Accidents are covered within our accident compensation scheme and care is immediate. No private facility could compete in this regard with the excellent comprehensive medical care offered by public hospitals.

The same ACC scheme offers assistance regarding loss of working time due to an accident and this is of considerable relief to employers. Legal actions are eliminated and in this regard the saving is massive.

Yes, this can all be labelled as socialism if you will, but when considered on a commercial basis, it is the most economical and sensible approach.

I note your rather cavalier closing statement and in particular the term “ my workers”. I too have employed people on a substantial scale. The work was demanding and technical and we comprised an effective cohesive team.

We (i.e. my business) operated a time clock only for the purpose of costing jobs. Staff did not clock on and off. Honesty was intrinsic. Acceptance of authority and promotion occurred on a natural basis. Quality control was automatic and customers complaints were zero. The place hummed. N.B. The organisation comprised privately owned limited liability companies, over which I had full authority and personally exercised complete control, and it made money.

I repeat I have no socialistic tendencies, I am a realist and adhere to commercial principals based on common sense. At the moment it would appear that in the US thoughts could be tempered a little and extended somewhat to take in a wider view of the possible potential and future. N.Z. had gone too far down a road to the left, but after the latest election is back on track. Surely a single election term will not ruin the US.

Re: how bad are some of those leading our country ?
 

No, I can not get coverage to insure them after they are dropped.

I guess I should have used "my employees" instead.

In less than 2 years, our country has been (what I consider) ruined by over spending, bail outs, lack of freedom, and headed for socialism in unimagineable speed. :mad:

.

Re: how bad are some of those leading our country ?
 

The way I read this I think you're upset at the wrong person, so lemme get this straight.:confused:

You've been paying money to a company for years to provide insurance for your employees at a price set by a cartel of insurance carriers. Now that they are faced with the possibility of new competition undercutting them they are simply folding up their tent and leaving you hanging? You're now upset at the guy who's trying to stop them from abusing their customers because you'd rather go with the option that charges more for the same service and can simply take your money and run at any given moment?

Your insurance provider is like most others in this country. That is the problem that Obama has tried to remedy, although he was unable to do so correctly due to the power and influence of this huge and abusive industry.

This sounds like an abusive relationship where the wife won't dump the hurtful husband because she's afraid to be alone. Don't worry, you'll find something better than the thieves who've taken all your money and left you out to dry. There are other fish in the sea.